REDATOR Ben Graham Postado Novembro 5 REDATOR Denunciar Share Postado Novembro 5 The start of the trading day can carry the ghosts of the previous sessions, and today certainly had the potential for a chill. However, after recent fears that the US economic picture couldn't get much better—especially with tariffs biting and a prior softening in the labor market—the mood shifted abruptly thanks to a more positive wave of data.Sentiment turned postive mid-morning after we got a surprising lift in US activity:The morning session offered a beat on the employment front as the ADP Non-Farm Employment Change clocked in at 42K, largely surpassing the 25K forecast. This rebound in private sector hiring helped dispel fears about a degrading US labor picture, amid a still ongoing lack of public BLS data.Shortly after, US Services PMI surged to 52.4, comfortably beating the 50.8 expectations and signaling the strongest growth for the service sector since February. zoom_out_map 1H Chart Outlook for US Equities – November 5, 2025 – Source: TradingView These positive surprises fueled a widespread rebound in risk-assets, with all major US indices turning positive in Wednesday trading. This morning's strong recovery saw indices dip-buying as the S&P 500 fills its gap. zoom_out_map US Equity heatmap – November 5, 2025 – Source: TradingView Let's have a look at intraday charts for the Dow Jones, Nasdaq and S&P 500 to see where price action stands after recent volatile swings. Read More:US Dow Jones: A star performer amid the current US AI stocks sell-offUS Dollar (DXY) Jumps Past 100.00: Fed Rate Cut Bets Fall & Strong US Data. Will this Continue Throughout Q4?Markets Today: China Services PMI Hits 3-Month Low, Equities Slide, FTSE 100 Eyes Fresh HighsUS Index analysis and technical levels: Dow Jones, Nasdaq and S&P 500Dow Jones 4H Chart zoom_out_map Dow Jones 4H Chart, November 5, 2025 – Source: TradingView The Dow posted a strong bullish candle during the morning session, bringing momentum right above neutral for the industrial index.With the rally being stronger in tech than consumer defensive, some profit-taking happened at the 4H MA 50 which is the daily resistance that bulls will want to breakA triangle formation is also forming after the past week's correction and the most recent support, a technical pattern to watch to look out for in upcoming trading.Dow Jones technical levels of interest:Resistance LevelsCurrent All-time high 48,0904H MA 50 and resistance at 47,500ATH Resistance Zone 47,900 to 48,100post-FOMC highs resistance zone around 46,400 (immediately testing)Support LevelsShort timeframe pivot 47,000 to 47,20046,400 major support46,000 higher timeframe Pivot now support45,000 psychological level44,400 to 44,500Nasdaq 4H Chart zoom_out_map Nasdaq 4H Chart, November 5, 2025 – Source: TradingView Despite the brutal past week correction from its all-time highs, the tech-heavy index remains well within its May 2025 upward channel.Up above 1.50% since yesterday's close, bulls really enjoyed the news on the Services PMI, prone to tech overperformance.Nonetheless, buyers will have to maintain momentum (RSI right at neutral) towards the close and will have to breach the MA 50 to retake new all-time highs.Nasdaq technical levels of interest:Resistance LevelsCurrent ATH 26,283All-time high resistance zone 26,100 to 26,300immediate resistance and 4H MA 50 25,700 to 25,850Support LevelsCurrent Pivot 25,050 to 25,200 (Tuesday lows 25,186)24,500 supportOctober lows 23,997Early 2025 ATH at 22,000 to 22,229 SupportS&P 500 4H Chart zoom_out_map S&P 500 4H Chart, November 5, 2025 – Source: TradingView The S&P also sparked a strong rebound in the morning session, with the last 4H candle closing at its highs.Similarly as the Dow however, an immediate resistance level is getting reached which will have to be breached by the bulls for further continuation (look at the 4H 50 MA 6,855 for confirmation).A triangle formation should precede strong breakout levels, the rest will be to spot whether they come to the upside or the downside. Keep an eye on sentiment across all assets (Cryptos, Equities and Gold which correlate well this year.)S&P 500 technical levels of interest:Resistance Levels6,930 (current All Time-Highs)ATH Resistance 6,900 to 6,930Immediate resistance 6,830 to 6,855Support LevelsPivot and MA 200 6,720 to 6,750 (Tuesday lows)6,680 to 6,700 support6,570 to 6,600 Key support6,490 to 6,512 Previous ATH now Support (MA 200 Confluence)Safe Trades!Follow Elior on Twitter/X for Additional Market News, interactions and Insights @EliorManier Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. 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